The tax system in the United Kingdom is not easy to explain to foreigners. Arguably UK has the longest tax code in the world since 2009. Then international legal research company LexisNexis revealed their finding that the UK tax code has more than doubled in size since 1997, reaching 11,520 pages. The annual changes to…
When does an Estonian company attract tax residency in a foreign country? The exemption from corporate income tax, a special characteristic of Estonia, attracts foreign entrepreneurs to register companies in Estonia. Estonian entrepreneurs in turn are acting more and more actively in foreign countries while trying to retain a minimal tax burden. This is why…
The changes to the Income Tax Act came to force on 1st January Several changes of the Income Tax Act (abbreviated ITA) came to force from January 2015. 1Office brings out the most important changes of the Income Tax Act for entrepreneurs operating in Estonia. The basic exemption of a natural person increased by 120…
The taxation of non-Community goods in Sweden changes in the new year. From 1st January 2015 a company liable to pay VAT in Sweden needs to declare and pay VAT on import goods in the Swedish Tax Agency. According to the order in force so far VAT on import goods was declared and paid in…
From the 1st of January 2015 the new VAT order will begin to apply to B2C electronic services providers due to directive 2008/8/EC of the European Commission. The specified services will start to be taxed in the country where the recipient of the service is located. Which electronic services will taxation change for? The changes…
From the 1st of January 2015 the new VAT order will begin to apply to B2C electronic services providers due to directive 2008/8/EC of the European Commission. The specified services will start to be taxed in the country where the recipient of the service is located. Which electronic services will taxation change for? The changes…
From 1 December the value added tax order for passenger cars used by a company will change. According to the new order, when buying and using a passenger car on the basis of a contract for use, also when buying goods and services for the car, there is a right to deduct input VAT only…
Estonian President Toomas Hendrik Ilves blocked on 18th of December 2013 an amendment to the Estonian Value-added tax act – which would require all transactions greater than 1,000 euros to be declared – on the grounds that it is unconstitutional. Opponents of the amendment, including the Estonian Association of SMEs, say it threatens business secrets,…
Starting from 1st of January 2013, the income tax in Sweden, applied for companies, is 22%, instead of the previous 26,3%. The old tax rate still applies for the companies which financial year started before the 1st of January 2013. In 2014, the income of Swedish companies for the year 2013 will be taxed with…
New minimum gross monthly salary of 320 euros is not yet approved Minimum gross monthly salary is still 290 euros, until the government approves new minimum with its decree. The Estonian Trade Union Confederation and The Estonian Employers’ Confederation signed an agreement on 21st of December 2012, which stated a new minimum gross monthly salary…